"We have gone in and taken the assets away from the competent people, given them to the incompetent people and said to the incompetent people, now you compete with the competent people with their money. It’s absurd.”

Bond bears recently discovered that conventional wisdom was flawed. The experts expecting higher yields at the start of a tapering regime never understood the difference, but equity traders did once they got over the shock.

Bond bears recently discovered that conventional wisdom was flawed. The experts expecting higher yields at the start of a tapering regime never understood the difference, but equity traders did once they got over the shock.

India’s growing GDP is very important to gold’s rise, especially when it comes to the Love Trade. The math shows that an increasing GDP per capita in this part of the world has historically been linked to the rising price of gold.

So for oil, remember you can't fight the Fed or even the ECB and you can't outlast the guys who can print the cash. But really from a technical standpoint, the oil market was probably ready to bottom anyway.

The bond market is looking for direction having been in a range of 147’00-148’00. The market has since broken out somewhat to the upside trading as high as 148’22 and then backing off to the 147’17 level before rallying back to current levels.